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SCANA (SCG) Q1 Earnings Miss, Revenues Fall YoY

SCANA Corp.’s SCG operations include generation, transmission, distribution, and sale of electricity to retail and wholesale customers in South Carolina. The company also purchases, sells, and transports natural gas to retail customers in South Carolina and southeastern Georgia; provides energy-related risk management services; and acquires, owns, and provides financing for nuclear fuel, fossil fuel, and emission allowances. In addition, it offers fiber optic communications, Ethernet services, and data center facilities. SCANA also builds, manages, and leases communications towers in South Carolina, North Carolina, and Georgia; and services contracts on home appliances, and heating and air conditioning units.

Currently, SCANA has a Zacks Rank #3 (Hold) but that could change following its first quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
 
Earnings: SCANA misses on earnings. Earnings per share came in at $1.28 per share missing the Zacks Consensus Estimate of $1.39.

Revenue: Operating revenues of $1,172 million declined 15.6% year over year.

Key Stats:

Segment Performance: South Carolina Electric & Gas Company (SCE&G): Quarterly earnings from this segment, SCANA's principal subsidiary, were 86 cents per share, up from 84 cents in the year-ago quarter.

PSNC Energy: This segment recorded earnings of 25 cents during the first quarter versus 24 cents reported in the prior-year quarter.

SCANA Energy-Georgia: The segment – comprising SCANA’s retail natural gas marketing business in Georgia – posted earnings of 17 cents per share, lower than 23 cents in the first quarter of 2015.

Check back later for our full write up on this SCANA earnings report later!

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SCANA CORP (SCG): Free Stock Analysis Report
 
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